Question
it is an international taxation project. Can anyone help me? My name is ABC, in this next following question. If need to use my name,
it is an international taxation project. Can anyone help me?
My name is ABC, in this next following question. If need to use my name, please type ABC. Thank you
ACCT 8036 Module 3 Project
Prepare a Form 114 (FBAR) for calendar year 2014.
PDF fill-in form available at http://bsaefiling.fincen.treas.gov/NoRegFilePDFIndividualFBAR.html
Be sure to click on and review the various tabs in the pdf to make sure you are reporting the proper accounts in the proper sections of the form.
John D. Client (use your own name in place of John Client when filling out the form), SSN 123-45-6789, DOB 01/01/1960 is an unmarried US citizen, residing at 200 Main Street, Big City, OH 45000. He is 100% owner of ABC Corp, an Ohio S-corporation. He is a 25% owner of XYZ Corp, a Kentucky S-corporation; he does not have signature authority on the accounts of XYZ Corp. The following is information available regarding the financial accounts held by all of the aforementioned taxpayers. For purposes of the assignment, prepare only the FBAR required to be filed by John Client (any FBARs required to be filed by either corporation will be prepared by the corporate CPA). All account information that could potentially be needed is provided below; you will need to review the details of each account to determine whether it is reportable or not, and if so on which part of the form it is to be reported.
Account Owner John Client (use your own name on the form)
1. Checking account #111222333 held at US Bank, 100 Main Street, Big City, OH 45000. Balance - $7,225 on 6/30/14; $5,109 on 12/31/14
2. Investment account #FNY309 held at London Investments, 100 Broad Street, London 1ZZ UK Value 32,989 euro on 6/30/14; 36,578 euro on 12/31/14
Account Owner ABC Corp
1. Checking account #333444555 held at US Bank, 100 Main Street, Big City, OH 45000. Balance - $25,644 on 6/30/14; $22,433 on 12/31/14
2. Savings account #42A000 held at Deutsche Bank, 500 Vine Street, Big City, OH 45000. Balance - $4,602 on 6/30/14; $12,905 on 12/31/14
3. Checking account #DM998400 held at Bank of Hamburg, 12 Mainstrasse, Hamburg, Germany 9900.
Balance 45,675 euro on 6/30/14; 40,778 euro on 12/31/14
4. Checking account #P10333AB held at US Bank, 250 Broad Street, London ZZ99 1AB United
Kingdom
Balance - $102,699 on 6/30/14; $137,547 on 12/31/14
Account Owner XYZ Corp
1. Checking account #555666777 held at US Bank, 100 Main Street, Big City, OH 45000. Balance - $58,632 on 6/30/14; $8,220 on 12/31/14
2. Checking account #DM665300 held at Bank of Hamburg, 12 Mainstrasse, Hamburg, Germany 9900
Balance 60,321 euro on 6/30/14; 78,362 euro on 12/31/14
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